See more Daily Mail on Google - save us as a Preferred SourceBy OLIVIA ALLHUSEN, FOREIGN NEWS REPORTER Published: 16:01 BST, 12 June 2026 | Updated: 16:01 BST, 12 June 2026
A billionaire hedge fund tycoon has purchased one of the world's most expensive superyachts in a $400million (£300million) deal.The 332ft vessel, which comes equipped with its own helicopter pad, beach club and glass-bottomed swimming pool, has been snapped up by Blackstone boss Steve Schwarzman ahead of his 80th birthday next year.Built in the Netherlands and designed by British engineering firm RWD with interiors by Paris-based studio Chahan, the cutting-edge yacht, named Project 1014, has been under construction since 2023 and recently began sea trials.The purchase is likely to draw scrutiny owing to Schwarzman's environmental credentials, according to The Telegraph.The billionaire investor runs one of the world's largest investment firms, Blackstone, which has more than $1.3trillion in assets under management. In 2020, he signed the Giving Pledge, committing to donate the majority of his wealth to charitable causes.His donations include £150million to the University of Oxford, the largest single gift to the institution since the Renaissance, which funded a new humanities faculty bearing his name.The building has been praised for its environmental credentials, achieving certification to the Passivhaus standard for low-energy consumption earlier this year.It is the largest Passivhaus scheme in England and the only concert hall in the world built to the standard.But those green credentials stand in stark contrast to his latest purchase, with superyachts consuming vast quantities of marine diesel. A billionaire hedge fund tycoon has purchased one of the world's most expensive superyachts in a $400million (£300million) deal The 332ft vessel, which comes equipped with its own helicopter pad, beach club and glass bottomed swimming pool, has been snapped up by Blackstone boss Steve Schwarzman ahead of his 80th birthday next year Built in the Netherlands and designed by British engineering firm RWD with interiors by Paris-based studio Chahan, the cutting-edge yacht, named Project 1014, has been under construction since 2023 and recently began sea trials Steve Schwarzman (pictured) runs one of the world's largest investment firms, Blackstone, which has more than $1.3trillion in assets under managementOxfam has estimated the average superyacht emits 5,672 tonnes of carbon each year, a total it said would take the average person around 860 years to match.Mr Schwarzman, a supporter of Donald Trump, previously faced criticism after transporting tanker loads of water to fill a lake on his 2,500-acre Wiltshire estate during a hosepipe ban.Although the deliveries were legal, he was blocked from receiving further water shipments following a backlash from local residents.Blackstone has also faced accusations over its investment in Brazilian firm Hidrovias, with critics alleging it contributed to deforestation in the Amazon rainforest.The company has described the claims as 'blatantly wrong and irresponsible'.Mr Schwarzman is one of the world’s richest people with a net worth of roughly $40billion. He started his first business aged 14, launching a lawn-mowing company and hiring his two younger brothers to carry out the work.After rising through the ranks at investment bank Lehman Brothers, he left to co-found Blackstone with Peter Peterson in 1985.Mr Schwarzman backed Mr Trump in the 2024 election and has spoken in favour of the president’s controversial tariff policies.His other philanthropic ventures include a $350million donation to establish the MIT Schwarzman College of Computing and $150million to Yale University to create the Schwarzman Center, an events and exhibition space for students.
